Common use of BY ACTION OF HOLDERS Clause in Contracts

BY ACTION OF HOLDERS. If any Event of Default (other than an Event of Default specified in Section 6.1(e)) shall exist, the Required Holders may exercise any right, power or remedy permitted to such holder or holders by law, and shall have, in particular, without limiting the generality of the foregoing, the right to declare the entire principal of, and all interest accrued on, including Contingent Interest, all the Notes then outstanding to be, and such Notes shall thereupon become, forthwith due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and the Issuers shall forthwith pay to the holder or holders of all the Notes then outstanding the entire principal of, and interest accrued on, the Notes and, to the extent permitted by law, the Prepayment Fee at such time with respect to such principal amount of such Notes.

Appears in 1 contract

Samples: Note Agreement (Coho Energy Inc)

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BY ACTION OF HOLDERS. If any Event of Default (other than an Event of Default specified in Section 6.1(e)) or Section 6.1(f) shall exist, the Required Holders may exercise any right, power or remedy permitted to such holder or holders by law, and shall have, in particular, without limiting the generality of the foregoing, the right to declare the entire principal of, and all interest accrued on, including Contingent Interest, all the Notes then outstanding to be, and such Notes shall thereupon become, forthwith immediately due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and the Issuers Company shall forthwith pay to the holder or holders of all the Notes then outstanding the entire principal of, and interest accrued on, the Notes and, to the extent permitted by law, the Prepayment Fee Compensation Amount at such time with respect to such principal amount of such Notes.

Appears in 1 contract

Samples: Note Agreement (World Almanac Education Group Inc)

BY ACTION OF HOLDERS. If any Event of Default (other than an Event of Default specified in Section 6.1(e5.1(e) or Section 5.1(h)) shall exist, the Required Holders may exercise any right, power or remedy permitted to such holder or holders by law, and shall have, in particular, without limiting the generality of the foregoing, the right to declare declare, the entire principal of, and all interest accrued on, including Contingent Interest, all the Notes then outstanding to bebe due and payable, and such Notes shall thereupon become, become forthwith due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and the Issuers Company shall forthwith pay to the holder or holders of all the Notes then outstanding the entire principal of, and interest accrued on, the Notes and, to the extent permitted by law, the Prepayment Fee at such time with respect to such principal amount of such Notes.

Appears in 1 contract

Samples: Note Agreement (Pameco Corp)

BY ACTION OF HOLDERS. If any Event of Default (other than an Event of Default specified in Section 6.1(e9(f) or Section 9(g)) shall exist, the Required Holders holders of at least a majority in principal amount of the Notes then outstanding may exercise any right, power or remedy permitted to such holder or holders by law, and shall have, in particular, without limiting the generality of the foregoing, the right to declare declare, the entire principal of, and all interest accrued on, including Contingent Interest, all the Notes then outstanding to bebe due and payable, and such Notes shall thereupon become, become forthwith due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and the Issuers Company shall forthwith pay to the holder or holders of all the Notes then outstanding the entire principal of, and interest accrued on, the Notes and, to the extent permitted by law, the Prepayment Fee at such time with respect to such principal amount of such Notes.

Appears in 1 contract

Samples: Stock Pledge Agreement (Divine Inc)

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BY ACTION OF HOLDERS. If any Event of Default (other than an Event of Default specified in Section 6.1(e11(f)) shall exist, the Required Holders may exercise any right, power or remedy permitted to such holder or holders by law, and shall have, in particular, without limiting the generality of the foregoing, the right to declare declare, the entire principal of, and all interest accrued on, including Contingent Interest, all the Notes then outstanding to bebe due and payable, and such Notes shall thereupon become, become forthwith due and payable, without any presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, and the Issuers Company shall forthwith pay to the holder or holders of all the Notes then outstanding the entire principal of, and interest accrued on, the Notes and, to the extent permitted by law, the Prepayment Fee at such time with respect to such principal amount of such Notes.

Appears in 1 contract

Samples: Note Purchase Agreement (Rowecom Inc)

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